Trading Nation

The charts are pointing to more all-time highs ahead for Netflix

Trading Nation: Buy Netflix and chill?

It's time to binge on shares of Netflix.

That's the message Oppenheimer technician Ari Wald is reading in the charts. The streaming giant hit yet another all-time high Tuesday, further establishing a breakout by the stock that has Wald looking at some key levels to watch.

"You can see the stock breaking through its January peak, that was right at around $287," he said Monday on the "Trading Nation" segment of CNBC's "Power Lunch." "That level should now be viewed as support. On the upside, that breakout measures to about $337."

In other words, the charts are telling Wald that Netflix could rally another 3 percent or so.

And according to Phil Streible, senior market strategist at RJO Futures, Netflix has been a big driver of the Nasdaq. "It's done a really beneficial job for the Nasdaq," he said on "Power Lunch. "We're up 6 percent year to date, far outperforming the S&P 500 and the Dow which are floating right at around unchanged."

Netflix has soared 69 percent year to date.